Is Senior Care A Good Business?
Is senior care a good business? In short, yes! Looking beyond the feel-good benefits, today’s post highlights the top-3 reasons why it makes sense to start a senior care business over any other in 2020.
Read on or call 1 (855)-393-2372 to speak directly with a senior care business representative.
1. Universal Demand For Senior Care Supports Your Startup’s Success
When we say there’s never been a better time to start a senior care business, we’re not exaggerating. Though it may sound like marketing hyperbole, the present demand for senior care services is the stuff entrepreneurial dreams are made of!
Consider the following senior service statistics:
- Americans are aging en mass. Research by the US Census Bureau projects that, by the year 2035, seniors will outnumber children under the age of 18 for the first time in US history. Currently, approximately 10,000 Americans are aging past 65 every day, and this trend will continue for the foreseeable future.
- Family caregivers need support. In 2017, about 41 million family caregivers in the United States provided an estimated 34-billion hours of care to seniors in need, according to the AARP. Many of these caregivers are in dire need of respite, and they’re turning to senior care services like ours for help.
- The future of care depends on senior care businesses. According to a 2017 report by the AARP, Americans are now having fewer children, and older adults are more likely to be divorced or to have never been married than ever before. These “elder orphans” will be relying on professional senior care services to maintain their safety, comfort, and quality of life.
In 2020, few other industries can claim to add 10,000 potential customers per day, and the demand for senior services is only increasing.
2. Senior Care Businesses Are “Pandemic-Proof”
Since the early days of the pandemic, the U.S. Department of Homeland Security’s Cybersecurity & Infrastructure Security Agency deemed senior care businesses as part of America’s “essential critical infrastructure.”
This designation guarantees senior care business continuity, even in the event that the economy closes and nationwide lockdowns are ordered. And it’s only right, since thousands of Americans now depend on senior care businesses to maintain their independence and reduce their risk of COVID-19 infection.
In light of this essential business designation, senior care companies are “pandemic-proof,” facing none of the uncertainties experienced by other industries.
3. Senior Care Businesses Are Extremely Affordable
In addition to their high profit potential, senior care businesses have low barriers to entry, both in terms of your experience and investment. On average, our senior care businesses cost between $99,650 and $161,900 to start. This start-up investment covers everything you need to launch your business, from signage and insurance to total business training.
Learn More About Starting A Senior Care Business In 2020-2021
Call 1-855-393-2372 or visit the Executive Care website to learn more about our affordable, beginner-friendly franchise opportunity.